Bank of Nova Scotia, Others Amend Sandstorm Credit Facility

Sandstorm Gold amended its revolving credit agreement, allowing the company to borrow up to $150 million for general corporate purposes, including paying dividends.

The syndicate of banks who led the amendment included The Bank of Nova Scotia, Bank of Montreal, National Bank of Canada, Canadian Imperial Bank of Commerce and Royal Bank of Canada. The revolving loan has a term of four years, maturing on December 20, 2021.

Sandstorm Gold provides upfront financing to gold mining companies that are looking for capital and in return, receives the right to a percentage of the gold produced from a mine, for the life of the mine.